These are not only retail crypto investors, but major institutional players as well who suffer from massive cryptocurrency market losses in 2018. Pantera Capital crypto hedge fund, which holds at least 20-30 different cryptocurrencies and tokens including Augur (REP), Brave (BAT), Enigma (ENG) and 0x (ZRX), reported 73% loss in its Digital Asset Fund this year.
It is notable that these losses are even worse than the global cryptocurrency market drop, the latter being down by 65% over the same period. However, Pantera’s reported 22.3% loss in August is on par with the drop seen in the AltDex 100 Cryptocurrency Index (ALT100).
Such major losses are fairly unheard of among most other hedge funds. For example, HFRX Global Hedge Index went down only by 1.42% in the course of this year.
Known for his bullish attitudes towards bitcoin, the founder of Pantera Capital Dan Morehead has been continuously urging investors to buy bitcoins. He also announced the launch of yet another cryptocurrency fund with $79 000 000 under management.